Investment Partners LTD. Buys New Position in Norfolk Southern Corporation $NSC

Investment Partners LTD. bought a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 3,240 shares of the railroad operator's stock, valued at approximately $1,001,000.

Other institutional investors have also bought and sold shares of the company. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Norfolk Southern during the second quarter worth about $26,000. Meeder Asset Management Inc. acquired a new stake in Norfolk Southern in the second quarter valued at $27,000. North Point Portfolio Managers Corp OH acquired a new position in Norfolk Southern in the 3rd quarter valued at about $28,000. Elevation Wealth Partners LLC increased its stake in shares of Norfolk Southern by 2,125.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 89 shares of the railroad operator's stock valued at $28,000 after acquiring an additional 85 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Norfolk Southern during the 2nd quarter worth about $31,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

NSC opened at $342.55 on Friday. Norfolk Southern Corporation has a 52-week low of $277.80 and a 52-week high of $358.60. The business's fifty day moving average is $326.36 and its 200-day moving average is $314.88. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.90. The firm has a market cap of $76.94 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 5.12 and a beta of 1.29.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.16. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. Norfolk Southern's revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.30 EPS. Sell-side analysts expect that Norfolk Southern Corporation will post 12.80 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, November 6th. Norfolk Southern's dividend payout ratio is presently 45.26%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Norfolk Southern from $360.00 to $377.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Susquehanna lowered their price target on shares of Norfolk Southern from $386.00 to $350.00 and set a "neutral" rating on the stock in a report on Friday, October 2nd. UBS Group reissued a "neutral" rating on shares of Norfolk Southern in a research report on Monday, October 26th. Evercore lifted their price objective on Norfolk Southern from $358.00 to $360.00 in a report on Wednesday, September 30th. Finally, Weiss Ratings raised shares of Norfolk Southern from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 9th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of "Hold" and an average price target of $348.81.

About Norfolk Southern

Norfolk Southern Corporation NYSE: NSC is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.

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